Two of its main blockbuster drugs enabled it to turn in a “good operational performance” in 2017

AFP

15:05 January 24, 2018

GENEVA

Swiss pharmaceuticals giant Novartis said Wednesday that strong sales of two of its main blockbuster drugs enabled it to turn in a “good operational performance” in 2017.

Novartis said in a statement that net profit climbed by 15 per cent to $7.7 billion in 2017 on a one-percent increase in sales to $49.1 billion. “Novartis had a good year in 2017,” said chief executive Joe Jimenez.

The group’s psoriasis drug, Cosentyx, “reached multi-blockbuster status,” the heart treatment Entresto delivered more than $500 million in sales and the eye care unit Alcon “returned to growth,” the statement said.

Underlying or operating profit of $12.9 billion was “broadly in line with prior year as sales growth and productivity fully offset generic erosion and growth investments,” Novartis said.